UWM Holdings Corporation (NYSE:UWMC – Get Free Report)’s share price dropped 4.2% during trading on Wednesday . The company traded as low as $1.49 and last traded at $1.4650. 2,734,566 shares were traded during trading, a decline of 86% from the average session volume of 19,938,178 shares. The stock had previously closed at $1.53.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on UWMC shares. Zacks Research lowered UWM from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $5.50 price target on shares of UWM in a research report on Thursday, May 7th. Citigroup raised shares of UWM to an “outperform” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods lowered their target price on shares of UWM from $3.75 to $2.75 and set an “outperform” rating for the company in a research note on Monday. Finally, Weiss Ratings lowered shares of UWM from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, UWM currently has a consensus rating of “Hold” and an average target price of $4.01.
View Our Latest Analysis on UWMC
UWM Stock Up 8.3%
UWM (NYSE:UWMC – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.30). UWM had a negative net margin of 1.04% and a negative return on equity of 5.61%. The business had revenue of $162.13 million for the quarter, compared to the consensus estimate of $727.46 million. On average, equities research analysts expect that UWM Holdings Corporation will post 0.24 EPS for the current fiscal year.
Institutional Investors Weigh In On UWM
Several large investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in UWM in the 1st quarter valued at $92,000. Focus Partners Wealth bought a new position in UWM during the 1st quarter worth about $55,000. Cetera Investment Advisers raised its stake in shares of UWM by 20.5% in the 2nd quarter. Cetera Investment Advisers now owns 112,961 shares of the company’s stock valued at $468,000 after purchasing an additional 19,239 shares during the period. Legal & General Group Plc lifted its holdings in shares of UWM by 65.9% in the second quarter. Legal & General Group Plc now owns 180,164 shares of the company’s stock valued at $746,000 after purchasing an additional 71,555 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of UWM by 18.5% during the second quarter. Rhumbline Advisers now owns 115,501 shares of the company’s stock worth $478,000 after buying an additional 18,034 shares during the period. Institutional investors own 53.59% of the company’s stock.
UWM Company Profile
United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.
The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.
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